That includes the key modems that connect iPhones to mobile networks. The company has been hiring engineers for the project in an effort to build 5G chips, one of the most expensive and complicated parts of a smartphone.

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Citing an anonymous source, The Information said that "in interviews with prospective hires for the team, Apple has told engineers that they expect to have their own modem ready by 2025."

After years of work on 5G networks, hyped as the life-changing foundation for augmented reality, telemedicine and other tech trends, the superfast wireless technology is finally going live around the globe. Carriers are turning on their networks, and virtually every major Android handset maker has touted plans to launch a 5G device this year. Apple hasn't.

The supply agreement will allow Apple to release a 5G iPhone -- but not before 2020.

At the time Intel announced plans to bail on 5G, CEO Bob Swan confirmed to The Wall Street Journal that his company's decision to exit the 5G phone modem business was due to Apple and Qualcomm.

"In light of the announcement of Apple and Qualcomm, we assessed the prospects for us to make money while delivering this technology for smartphones and concluded at the time that we just didn't see a path," Swan told the Journal.

Some publications have also pointed to rumors that Apple is looking to buy Intel's 5G phone modem business, but other reports have said the two companies couldn't reach a deal.